Analysts Set Snap Inc. (NYSE:SNAP) Target Price at $37.10

Snap Inc. (NYSE:SNAP - Get Free Report) has earned an average recommendation of "Hold" from the thirty-two ratings firms that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, twenty-two have assigned a hold rating and nine have assigned a buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $37.10.

Several research firms have issued reports on SNAP. The Goldman Sachs Group boosted their price target on Snap from $12.00 to $13.50 and gave the company a "neutral" rating in a report on Wednesday, October 30th. Stifel Nicolaus cut their price objective on Snap from $13.00 to $11.00 and set a "hold" rating for the company in a research note on Monday, October 14th. Canaccord Genuity Group raised their target price on shares of Snap from $12.00 to $13.00 and gave the stock a "hold" rating in a research note on Wednesday, October 30th. Truist Financial lifted their price target on shares of Snap from $13.00 to $14.00 and gave the company a "hold" rating in a report on Wednesday, October 30th. Finally, Benchmark reissued a "hold" rating on shares of Snap in a research note on Friday, October 25th.

Snap Stock Performance

Shares of NYSE SNAP traded up $0.27 during midday trading on Friday, hitting $12.44. 58,197,712 shares of the company's stock traded hands, compared to its average volume of 25,530,772. The company has a debt-to-equity ratio of 1.63, a quick ratio of 4.04 and a current ratio of 4.04. The stock has a market capitalization of $20.86 billion, a price-to-earnings ratio of -21.45 and a beta of 0.97. The firm has a fifty day moving average of $11.23 and a 200 day moving average of $12.19. Snap has a 1 year low of $8.29 and a 1 year high of $17.90.

Snap (NYSE:SNAP - Get Free Report) last announced its earnings results on Tuesday, October 29th. The company reported $0.08 EPS for the quarter, beating analysts' consensus estimates of $0.05 by $0.03. The business had revenue of $1.37 billion during the quarter, compared to analysts' expectations of $1.36 billion. Snap had a negative net margin of 18.49% and a negative return on equity of 35.60%. The firm's revenue was up 15.4% on a year-over-year basis. During the same period in the prior year, the company earned ($0.21) earnings per share. On average, analysts forecast that Snap will post -0.4 earnings per share for the current year.

Insider Transactions at Snap

In related news, SVP Eric Young sold 50,000 shares of Snap stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $10.54, for a total transaction of $527,000.00. Following the completion of the sale, the senior vice president now owns 752,110 shares in the company, valued at $7,927,239.40. This trade represents a 6.23 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, General Counsel Michael J. O'sullivan sold 59,053 shares of Snap stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $9.29, for a total transaction of $548,602.37. Following the sale, the general counsel now directly owns 1,258,278 shares of the company's stock, valued at $11,689,402.62. This represents a 4.48 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,406,709 shares of company stock worth $16,662,107. 22.68% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Snap

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Marshall Wace LLP increased its holdings in shares of Snap by 587.3% in the 2nd quarter. Marshall Wace LLP now owns 14,667,597 shares of the company's stock valued at $243,629,000 after acquiring an additional 12,533,653 shares during the period. Geode Capital Management LLC boosted its position in Snap by 5.2% during the third quarter. Geode Capital Management LLC now owns 11,697,455 shares of the company's stock valued at $124,742,000 after purchasing an additional 575,324 shares in the last quarter. TB Alternative Assets Ltd. grew its stake in Snap by 105.6% in the third quarter. TB Alternative Assets Ltd. now owns 7,981,847 shares of the company's stock valued at $85,406,000 after purchasing an additional 4,098,847 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Snap by 62.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 6,211,360 shares of the company's stock worth $66,462,000 after purchasing an additional 2,386,519 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in Snap by 49.6% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,910,459 shares of the company's stock worth $41,842,000 after purchasing an additional 1,297,348 shares in the last quarter. Institutional investors own 47.52% of the company's stock.

Snap Company Profile

Snap Inc operates as a technology company in North America, Europe, and internationally. The company offers Snapchat, a visual messaging application with various tabs, such as camera, visual messaging, snap map, stories, and spotlight that enable people to communicate visually through short videos and images.